Food Tech Funding Round

UMIAMI Secures $34.7M for Plant-Based Chicken Innovation & U.S. Expansion

UMIAMI Secures $34.7M for Plant-Based Chicken Innovation & U.S. Expansion. FoodTech; AgTech

Key Takeaways

  • UMIAMI raised $34.7 million in a new funding round, bringing its total funding to $107 million.
  • The company plans to open a headquarters in Chicago and focus on the U.S. market.
  • UMIAMI’s “umisation” technology aims to revolutionize plant-based meat production.
  • The company plans to expand its production capacity in France and establish a plant in North America.
  • UMIAMI is targeting well-established plant-based markets in Europe for further growth.

UMIAMI, a French food tech company specializing in plant-based meat alternatives, has raised $34.7 million in a new funding round. This brings the company’s total funding to $107 million in three years. The funding round saw BPI France’s SPI fund participation and renewed support from existing investors such as Astanor Ventures, Redalpine, Newfund, Verso Capital, and French Tech Seed.

U.S. Market Focus

To underline its commitment to the American market, UMIAMI is opening a headquarters in Chicago and plans to recruit locally. John Hatto, a seasoned CPG executive with over 30 years of experience, has been appointed as the new U.S. Managing Director to guide the company’s expansion.

“Umisation” Technology

The new funding will be instrumental in advancing UMIAMI’s “umisation” technology, a unique process that creates plant-based fillets mimicking animal meat in taste, texture, and nutritional value. The technology uses fewer than 10 ingredients and is free from methylcellulose and other controversial additives.

European and U.S. Expansion

UMIAMI aims to become a global leader in plant-based meat and fish alternatives. The company plans to increase the production capacity of its French facility to 20,000 tons in the medium term. Additionally, UMIAMI is gearing up to establish itself in the United States, taking advantage of Chicago’s rich food industry talent pool and vibrant dining landscape.

Clean Label and Versatility

UMIAMI’s unique plant-based chicken fillet can be prepared in several ways, including grilled, breaded, fried, marinated, and sauced. The company aims to lead clean-label plant-based meat, offering a diverse and great-tasting product portfolio.

European Growth Strategy

The company will continue its growth in Europe, focusing on well-established plant-based markets such as Switzerland, Belgium, the Netherlands, Spain, and Italy. UMIAMI plans to unveil exciting new partnerships in early 2024.

Image provided by Umiami

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